House Tax Bill Threatens to Make Housing Even Less Affordable for Poor
- House measure would end tax-free bonds for affordable housing
- As a result, nearly 1 million rental units may not be built
Sen. McConnell Says GOP Has Votes for Tax Reform
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Even before Hurricane Harvey dumped 50 inches of rain on Houston, damaging hundreds of thousands of homes and apartments, affordable housing was already scarce. Because of rising rents, more than 200,000 low-income residents were spending over half their earnings on someplace to live.
But a provision in the tax bill passed by the U.S. House of Representatives would only intensify the housing crunch in the nation’s fourth-largest city -- and others across the U.S. -- by crippling affordable housing construction, developers and local government officials say.